Powered by Wetherby Asset Management Inc. its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 9.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,921 shares of the information technology services provider’s stock after purchasing an additional 338 shares during the period. The holdings of Wetherby Asset Management Inc. in ServiceNow were worth $2,183,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Chilton Capital Management LLC purchased a new position in ServiceNow during the 4th quarter valued at approximately $25,000. OLD Second National Bank of Aurora purchased a new position in ServiceNow during the 1st quarter valued at about $28,000. High Net Worth Advisory Group LLC purchased a new stake in ServiceNow in the 1st quarter valued at approximately $29,000. Delos Wealth Advisors LLC purchased a new stake in ServiceNow during the 4th quarter valued at approximately $40,000. Finally, GoalVest Advisory LLC purchased a new stake in ServiceNow in the 1st quarter valued at approximately $43,000. Hedge funds and other institutional investors own 87.49% of the company’s stock.
ServiceNow Insider Transactions
In other news, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $497.01, for a total value of $3,280,266.00. Following the completion of the sale, the director now directly owns 33,600 shares in the company, valued at approximately $16,699,536. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available on the SEC website. In other news, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $497.01, for a total value of $3,280,266.00. Following the completion of the sale, the director now directly owns 33,600 shares in the company, valued at approximately $16,699,536. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available on the SEC website. Also, insider Nicholas Tzitzon sold 2,822 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $438.75, for a total value of $1,238,152.50. The disclosure for this sale can be found here. Insiders sold 30,256 shares of company stock valued at $14,019,372 over the last three months. Corporate insiders own 0.28% of the company’s stock.
ServiceNow Price Performance
Shares of NOW opened at $470.03 on Friday. The company has a market cap of $94.95 billion, a PE ratio of 516.52, a P/E/G ratio of 9.57 and a beta of 0.94. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $462.03 and a two hundred day simple moving average of $487.21. ServiceNow, Inc. has a 1-year low of $406.47 and a 1-year high of $707.60.
ServiceNow (NYSE:NOW – Get Rating) last announced its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. The business had revenue of $1.75 billion in the quarter, compared to analyst estimates of $1.76 billion. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The company’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period last year, the business earned $0.38 EPS. On average, equities analysts expect that ServiceNow, Inc. will post 1.72 EPS for the current year.
Analysts Set New Price Targets
NOW has been the subject of several research reports. Morgan Stanley cut their price objective on ServiceNow from $594.00 to $575.00 and set an “overweight” rating on the stock in a research report on Thursday, July 14th. UBS Group cut their price objective on ServiceNow from $540.00 to $515.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Mizuho cut their price objective on ServiceNow from $520.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. BMO Capital Markets decreased their price objective on ServiceNow from $595.00 to $520.00 in a research report on Friday, July 15th. Finally, Guggenheim began coverage on ServiceNow in a research report on Friday, August 12th. They set a “neutral” rating and a $510.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $598.84.
ServiceNow Company Profile
(Get Rating)
ServiceNow, Inc provides enterprise cloud computing solutions that define, build, integrate, manage, and automate services for businesses worldwide. It powers the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.
Further Reading
Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW – Get Rating).
Receive News and Ratings for ServiceNow Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for ServiceNow and related companies with our FREE daily email newsletter of MarketBeat.com.